From nay to yay: JPMorgan’s path to crypto could shake up finance
JPMorgan (NYSE:) Chase’s constant love-hate relationship with cryptocurrency has been a fascinating one to observe over the years, especially since the digital asset sector started exploding at the start of 2021. To put things into perspective, between February and April, the total market capitalization of the space doubled from $1 trillion to $2 trillion.
As a result of this meteoric ascent, the individual market cap of premier cryptocurrencies such as Ether (ETH) and (BTC) has gone on to become higher than those of established multinationals, with Bitcoin surpassing Tesla (NASDAQ:), Tencent, Visa (NYSE:), Berkshire Hathaway (NYSE:), Alibaba (NYSE:), Facebook (NASDAQ:) and Samsung (KS:), among others.
What does JPMorgan’s potential entry mean for the market?
Will more banks continue to adopt crypto?
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